ISRAEL: Delta Galil reveals strong Q2 growth

Apparel maker Delta Galil Industries has recorded a "solid" second-quarter thanks to strategies implemented to diversify its portfolio, innovation and a strengthening of its financial resources.

In the three months to the end of June, earnings amounted to US$9.8m. This compared to $8.8m in the year ago period.

Sales were up 6% to $249.2m from $234.4m last year. The company said it recorded sustained organic growth across nearly all of its business segments.

"We are well on the way to our first $1bn sales year, and in fact have already reached that milestone during the four quarters ended 30 June," said CEO Isaac Dabah.

"The solid performance of Delta Galil is the product of sharply focused strategies to diversify our portfolio, invest in innovation, and strengthen our financial resources. Our decision to expand the branded business has also led to meaningful margin improvement. And our capacity to continue this profitable growth is supported by a strong balance sheet."

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